At the Doha Round of the WTO in late 2001,

D. an agenda was established to phase out subsidies to agricultural producers.

B. GATT was extended to include services.

C. world trade volume increased.

Which of the following is seen as a disadvantage of the euro?

B. National authorities losing control over monetary policy.

A. Higher foreign exchange and hedging costs.

C. It becomes difficult to compare prices across Europe

D. Undermines the development of a pan-European capital market.

QN=21. In a free trade area:

A. Barriers to the trade of goods and services among member nations are removed.

B. A common currency is adopted

C. A single parliament determines political and foreign policy

D. A common external trade policy is adopted

QN=22. Which of the following is true of a common market

C. It has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between member

A. All barriers to the trade of goods and services among member countries are removed and each country maintains its own policy toward nonmember countries

B. It involves the free flow of products and factors of production between member countries and adoption of individual external trade policies

D. It eliminates trade barriers between member countries and adopts a common external trade policy and a common currency

QN=23. Identify the incorrect statement about a common market

C. It establishes a central political apparatus coordinating the economic, social, and foreign policy of the member states

A. It has no barriers to trade between member countries

B. It includes a common external trade policy

D. It allows factors of production to move freely between members

QN=24. Which of the following is not a main institution in the political structure of the EU?

D. The Council of the European Union

QN25. Which statement is incorrect ?

C. Primary market research can be less expensive and time consuming than secondary market research

A. In secondary market research, information can be purchased from public or private organizations

B. Primary market research is conducted by collecting data directly from the foreign market place through interviews, focus groups, observation, surveys

D. Primary market research often provides more specific information and more matching with research purpose than secondary market research

QN=26. Which of the following is false ? - NOT SURE

C. Only a very few states and cities are involved in trade commissions whose purpose is to promote exports

A. Exporters often face voluminous paperwork, complex formalities, and many potential delays and errors

B. The United States Department of Commerce stands ready to help potential American exporters find potential export opportunities

D. There are a number of private organizations ready to provide assistance to would-be exporters

QN=27. In market research, which issue(s) should be examined when assessing financial and economic condition?

B. Trends in inflation, interest rates, exchange rate stability

C. Religion and culture of that market

D. Natural resources of that market

QN=28. A firm wishing to export needs to:

A. Identify foreign market opportunities and avoid a host of unanticipated problems that are often associated with doing business in a foreign market

B. Familiarize itself with the mechanics of export and import financing

C. Learn where it can get financing and export credit insurance, and learn how it should deal with foreign exchange risk

QN=31. If a producer sells through an import agent, a wholesaler, and a retailer, then:

B. The retail system must be concentrated

C. The Internet probably does not plays a big role in the economy

QN=33. Which of the following is not recommended when considering exporting ?

A. Begin by focusing on many markets and enter those markets on a large scale

B. Hire an Export Management Company (EMC) and be prepared to commit a lot of time and effort to build relationships with foreign distributors and/or customers

C. Be prepared to hire additional personnel in the home office to oversee export operations and to hire local personnel to help the firm established itself in the foreign market

D. Learn how to avoid different types of risk in international trade

QN=34. Which of the following is not a feature of direct distribution channel ?

A. It can be cheap and not time consuming

B. It offers manufacturers opportunities to learn about their markets and customers

C. It allows firms greater control over their activities

D. It offer manufacturers a chance to gain better relationship with their trading partners

QN=35. When evaluating and selecting..........., there are some major factors which should be consider, including their local reputation, experience with a similar product or industry and commitment not to present competing brands

A. A potential representatives(agents and distributors)

D. A potential State Government and city agencies

QN=36. Which of the following is not true for indirect distribution channel ?

D. Indirect channel increases the contact/feedback from end users

A. Indirect channel needs little or no investment or marketing experience, and it is suitable for firms with limited resources or experience

B. Indirect channel helps increase overall sales for the firms

C. Indirect channel is a good way to test market products before making substantial commitment

QN=40. International Logistics:

A. Is using different currency and exchange rate

B. Is facing only one national regulation on customs procedures, documentation, packing and labeling requirements

C. Is suitable for very short distance, and no need for high inventory levels

D. Has the goods transported mostly by trucks

81. An air way bill acts as

D. Both contract of carriage and shipper's receipt of goods

C. Shipper's receipt of goods only

82. Which of the following statements in false?

C. Insurance certificate is always issued by an exporter himself to ensure the safety for their goods

A. Drafts is an order written by an exporter instructing the importer to pay a specified amount of money at a specified time.

B. A bill of lading serves as a receipt, a contract, and a document of title

D. A certificate of origin is the document evidencing the origin of goods.

83. Which of the following transport documents is not appropriate for transportation by sea?

B. A charter party bill of lading

84. An importer in vietnam buys equipment from an exporter from U.S.A. The importer requires the exporter to provide them with a document which attests the specifications of the goods, and this document must be issued by the third party. Which of the following documents should best match this repuirement?

D. An inspection certificate issued by an inspection company in the U.S

A. A commercial invoice issued by an exporter

B. A packing list issued by an exporter

C. A certificate of origin which states the origin of goods only

89. In order to limit foreign credit risk from the importer in international trade, which payment method the exporter can use?

d. Both letter of credit and open account

92. Which statement is incorrect about a letter of credit(L/C)?

d. L/C can help exporter and importer avoid all types of risk in international trade

a. L/C has the advantage to the exporter of guaranteeing payment provied that he presents complied documents

b. L/C is advantageous to the importer because the importer doesn not have to pay outfinds for the merchandise until the documents have arrived and unless all conditions stated in the letter of credit have been statisfied

c. L/C has the disvantage to the importer because he often must pay to the bank a fee to issue the letter of credit

93. Which statement is false about countertrade?

d. Countertrade is very consistent the national treatment standard under GATT/WTO

a. Countertrade helps firms contact directly with their customers.

b. Countertrade helps firms control over the operation and make sure its confidentiality

c. Countertrade is costly and mostly suitable for multinational companies with broad-based product lines.

94. In countries where exchange control retrictions are in place...is quite common.

d. Both exporting and importing

b. Refers to range of baterlike agreements by which goods and services can be traded for other goods and services.

a. Accounts for a very small percentage of total world trade

c. Make sense when a country's currency is freely convertible

d. Is totally consistent with national treatment standard (nt) which is embolied in most trade agreements

100. Specific tariffs are:

b. Levied as a fixed charge for each unit of a good imported.

a. Levied as a proportion of the value of the imported good.

c. In the form of manufacturing or production requirements of goods.

d. Government payment to domestic producers.

All of the following are true of tariffs except:

A. They reduce the revenue for the government.

B. They can be levied as a proportion of the value of the imported good.

C. They can be levied as a fixed charge for each unit of a good imported.

D. They impose significant costs on domestic consumers.

IEI301 3

Quiz

•

Mathematics

•

KG

•

Practice Problem

•

Easy

•

CCSS

RI.4.5, RI.1.3, RI.K.2

+24

Standards-aligned

Xuan Vu Nguyen

Used 11+ times

FREE Resource

55 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Until 1995, GATT rules applied to all of the following except:

A. manufactured goods.

B. services.

C. textiles.

D. agricultural products.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In............all barriers to trade of goods and services among members countries are removed and the countries

A. Free trade area

B. Customs union

C. Preferential agreement

D. None of the others

The ultimate controlling unit within the European Union is the:

A. European Council

B. European Commission

C. European Parliament

D. European Central Bank

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the 1986 Uruguay Round, the ...... was to be created to implement the GATT agreement.

A. World Trade Organization

B. International Monetary Fund

C. United Nations

D. World Bank

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On January 1, 1993,...........moved toward a single market with 340 million consumers.

A. the European Union

B. MERCOSUR

C. the Andean commnunity

D. NAFTA

An agreement between countries in a geographic region to reduce tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other is referred to as:

A. regional economic integration.

B. socioeconomic integration.

C. political integration.

D. economic-political integration.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ............ was established to remove barriers to the free flow of goods, services, and capital between nations.

A. United Nations

B. International Monetary Fund

C. General Agreement on Trade and Tariffs

D. IDA

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IEI301 3

55 questions

Until 1995, GATT rules applied to all of the following except:

In............all barriers to trade of goods and services among members countries are removed and the countries

The ultimate controlling unit within the European Union is the:

According to the 1986 Uruguay Round, the ...... was to be created to implement the GATT agreement.

On January 1, 1993,...........moved toward a single market with 340 million consumers.

An agreement between countries in a geographic region to reduce tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other is referred to as:

The ............ was established to remove barriers to the free flow of goods, services, and capital between nations.

At the Doha Round of the WTO in late 2001,

Which of the following is seen as a disadvantage of the euro?

QN=20. On January 1, 1993,.........moved toward a single market with 340 million consumers.

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